Crude oil prices have fallen to rock bottom since early May.

Illustration photo.

The prices of two crude oil products have returned to their lowest levels since early May. Specifically, Brent oil prices fell to 62.39 USD/barrel, a decrease of about 1.47%; while WTI oil prices also fell 1.33%, stopping at 58.7 USD/barrel.

Oil prices fell again in yesterday's trading session as the market continued to receive warnings about the risk of global oversupply in the coming time.

The latest signal comes from the International Energy Agency (IEA) October Oil Market Report. Accordingly, the IEA still maintains its forecast of a strong increase in supply thanks to OPEC+ and major producers in the Americas, with global output expected to increase by 3 million barrels per day to 106.1 million barrels per day this year and continue to increase by 2.4 million barrels per day in 2026.

Meanwhile, the IEA’s forecast for global oil demand growth is just 700,000 barrels per day for both 2025 and 2026, reinforcing the outlook for oversupply in the market. Short-term demand is also significantly impacted by the decline in global refinery capacity. The IEA said that total crude oil input in October was only 81.6 million barrels per day, due to the regular maintenance season and the impact of attacks on energy facilities in Russia.

Investors continued to express concerns about the outlook for global energy demand amid escalating trade tensions between the world’s two largest economies . After Beijing decided to tighten controls on rare earth exports, US President Donald Trump warned of the possibility of imposing additional tariffs of up to 100% on goods imported from China.

While US and Chinese officials have said they will meet on the sidelines of APEC, markets remain skeptical about the likelihood of substantial progress, especially as both sides announce additional measures that could create logistical bottlenecks. If trade relations between the two countries continue to deteriorate, the risk of supply chain disruptions could push the global economy into deflationary pressure, further reducing energy demand.

Source: https://vtv.vn/gia-dau-tho-roi-ve-day-tu-dau-thang-5-100251015150453227.htm